Finance Minister Henry Musasizi has called on Uganda's insurance sector to take a more active role in de-risking key government investments and mobilising long-term capital to support the country's tenfold growth strategy.

Musasizi made the remarks on Tuesday during an entry meeting with the Board of Directors and Management of the Insurance Regulatory Authority (IRA) of Uganda.

The IRA delegation was led by Board Chairperson Ms. Keto Nyapendi Kayemba and Acting Chief Executive Officer Dr. Sande Protazio.

The minister said the insurance industry should strengthen its role in providing risk advisory services for government projects to help mitigate potential risks. He also urged the sector to support the mobilisation of long-term patient capital for strategic investments under the government's tenfold growth strategy.

Musasizi further encouraged the industry to actively participate in government barazas to improve public understanding of insurance and promote an open-door policy aimed at increasing insurance awareness across the country.

During the meeting, Acting CEO Dr. Sande Protazio presented the current performance of the insurance industry, saying it continues to demonstrate resilience and steady growth.

He said the sector grew by 14.7%, with Gross Written Premium surpassing UGX 2 trillion in 2025, while total industry assets increased to UGX 3.46 trillion.

Protazio said that with continued government support, the insurance industry can make an even greater contribution to Uganda's socio-economic transformation.

IRA Board Chairperson Ms. Keto Nyapendi Kayemba reaffirmed the authority's commitment to implementing its Strategic Plan 2025/26–2029/30. She said the regulator remains focused on maintaining institutional confidence and stakeholder trust while effectively delivering its regulatory mandate.

The meeting was also attended by Minister of State for General Duties Hon. Cissy Mulondo and Minister of State for Privatisation and Investment Hon. Aminah Mukalazi.

Mukalazi raised concerns about the insurance claims handling process and the time taken to settle claims, urging the regulator to improve efficiency in line with market expectations.

Mulondo called on the Insurance Regulatory Authority to continue demonstrating transparency and accountability in order to strengthen public confidence and expand insurance services to underserved Ugandans.